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Suncorp Bank home loans

30 October 2018

Compare Suncorp Bank home loan offers.

Founded in 1902 as Queensland Agricultural Bank, Suncorp now has more than 230 branches and 2,200 ATMs across Australia. Suncorp is focused on personal banking, small-to-medium enterprises, commercial lending and agribusiness. Bank accounts, savings, business and personal loans, credit cards and investing services are all offered by Suncorp.

Back to Basics and Home Package Plus Refinance cashback offer

For a limited time, eligible borrowers can receive a $1,500 cashback when they refinance an owner occupier mortgage with Suncorp. The offer is available on Home Package Plus and Back to Basics Better Together Special mortgages with an LVR of 80% or less and a minimum loan amount of at least $250,000. You must apply by 31 December 2018 with settlement completed by 28 February 2019.

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Home loans offered by Suncorp Bank

Suncorp’s portfolio contains variable rate loans, fixed rate loans, line of credit loans and a home loan package. Suncorp home loans also offer features such as access to equity, redraw facilities, competitive interest rates and waived fees. Repayment customisation is another major feature that is available with Suncorp’s line of home loans.

Standard Variable Rate Home Loan

Suncorp's standard variable rate home loan includes an optional redraw facility, allowing you withdraw excess repayments in times of need. This loan type also comes with an offset facility, which enables you to place money in a savings account in order to lower the interest paid on the loan. Repayments can be made in principal and interest or interest-only, and extra repayments are allowed without penalties. You can schedule repayments on a weekly, fortnightly or monthly basis. There is an establishment fee and a monthly fee attached to this loan.

Back to Basics Home Loan

The Back to Basics Home Loan is a discounted variable rate loan that includes a redraw facility for easy cash access. The loan can be split between variable and fixed portions. Repayments can be made on a weekly, fortnightly or monthly basis and can be made in principal and interest or interest-only forms. There are no penalties for extra and lump sum repayments.

Fixed Rate Home Loan

This fixed rate home loan can be split to include a variable rate portion. Repayments can be made on a weekly, fortnightly or monthly basis. Extra and lump sum repayments are allowed up to $500 extra per month with no penalty, and repayments can be principal and interest or interest-only.

There is a loan establishment fee and a monthly fee attached to the Fixed Rate Home Loan.

Access Equity Home Loan

The Access Equity Home Loan is a variable interest rate line of credit loan that can be split to include a fixed rate portion, and can be a good option for borrowers who want to tap into the equity in their home. You can make repayments when it suits you, as long as the balance remains below the approved limit. An application fee and a monthly account-keeping fee also apply.

Home Package Plus

All of the above loan types, with the exception of the Back to Basics Home Loan, can be packaged into the Home Package Plus. This package carries an annual package fee, but also offers discounts on other banking products that are available with Suncorp including insurances, credit cards, transaction accounts and other loans.

Features of Suncorp Bank home loans

Ability to split. Many of Suncorp’s lending options can be split between a fixed and variable rate of interest.

Extra repayments. Borrowers can make extra or lump sum repayments with most of Suncorp’s home loans. This will help you pay off your mortgage earlier.

Home Package Plus. The standard variable, standard fixed and access equity loans can be combined with the Home Package Plus. This package includes the Everyday Options account, a transaction and savings account that allows you to set up inflows such as direct salary credits and outflows such as automated loan repayments. All of the money in this account can be used as an offset facility to save you money on interest.

Estimate your repayments with a home loan by filling in some of your details

How to apply for a Suncorp Bank home loan

Book an in-person meeting with a lender. This will require you to fill out a form in which you’ll need to specify some personal and financial details. You will enter your preferred method of contact and schedule a meeting with Suncorp. You can even choose between meeting at a branch or having a mobile lender come to you. You will be contacted within a few business days.

Documents needed to apply for a Suncorp Bank home loan

Personal information

Suncorp will want to see some documentation regarding your personal identity. You’ll need to provide 100 points of ID, as is required by law.

Property information

You’ll need to supply the contract of sale, certificate of title and the transfer of land document for the property you're buying.

Financial information

Details of your expenses and liabilities. Expenses and liabilities include credit card debt, loan debt, child support payments, utility bills and other outstanding bills that you owe.

Proof of income. If you earn a wage or salary you need to provide two consecutive pay slips, a letter from your employer stating your income, and information on wage deposits into a transaction account over a three-month period. If you are self-employed you need to provide personal tax returns.

8 Responses

Suncorp’s portfolio contains variable rate loans, fixed rate loans, line of credit loans and a home loan package. Suncorp home loans also offer features such as access to equity, redraw facilities, competitive interest rates and waived fees. Repayment customisation is another major feature that is available with Suncorp’s line of home loans.

Also once you have decided which type of loan you are interested in you can book an in-person meeting with a lender. This will require you to fill out a form in which you’ll need to specify some personal and financial details. You will enter your preferred method of contact and schedule a meeting with Suncorp. You can even choose between meeting at a branch or having a mobile lender come to you. You will be contacted within a few business days.

On this page you can read our guide about refinancing your home loan to consolidate debts and you can compare a range of loans that are suited for refinancing purposes.

However, please be mindful of any exit fees you may incur with your existing lender as well as application or start-up fees that may be charged by your new lender. It’s also important to realise that while consolidating your debts is convenient, it will take you longer to repay the combined debt.

What is the best loan for you will depend on how you will use your loan and what your goals are.

I would recommend comparing variable rate home loans with offset accounts and ordering the loans based on the interest rate, which you can do by clicking on the table heading. You can then also look at which loans have no annual fees or other costs involved.

Alternatively you can contact a mortgage broker or the specific lender you had in mind to discuss what they can find as the best for you.

I would like to book a mobile lender from Suncorp to visit me at my home. I currently have all banking with Suncorp & considering seeking pre approval from Suncorp for another home loan.
Regards
Natasha

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